LONDON: Gold hit a five-week high on Thursday as the dollar remained under pressure following sluggish US data that pushed back expectations of when interest rates in the world's largest economy will rise. Spot gold rose to the highest since April 6 at $1,219.70 an ounce and was trading up 0.3 per cent at $1,218.05 an ounce by 1131 GMT. US gold futures for June delivery were unchanged at $1,217.60 an ounce. The metal was also heading for its biggest weekly gain in five months, mostly aided by an almost 2 per cent increase on Wednesday after the dollar tumbled to three-month lows.
Following all the glowing retail sales reports for Christmas, the actual numbers reported today show a mere .1% rise. Excluding autos which rose 1.5%, retail sales actually declined.
MarketWatch reports U.S. retail sales rise scant 0.1% in December
Sales at U.S. retailers increased 0.1% in December, the government said Thursday, in a report that bucked expectations of stronger sales during the holiday period.
Stocks fell a day after the Nasdaq crossed 5,000 for the first time in 15 years, and the S&P 500 climbed to a new high. First, the scoreboard: Dow: 18,203.6, -85, (-0.5%) S&P 500: 2,107.8, -9.6, (-0.5%) Nasdaq: 4,979.7, -28.4, (-0.6%) And now, the top stories on Tuesday:
NetApp Inc. (NTAP) is trading higher on a positive note from Barron's as to why the storage device maker can gain up to 25% this year. The company generates annual free cash flow (FCF) equivalent to 14% of its market capitalization. Its FCF yield of 14% in comparison to 9% for tech giants Apple and Microsoft is a feat in itself.